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Updated almost 7 years ago on . Most recent reply

User Stats

89
Posts
27
Votes
Michael Williams
  • Investor
  • Memphis, TN
27
Votes |
89
Posts

How To Flip A Vacant House When Both The LE & REM Are Deceased

Michael Williams
  • Investor
  • Memphis, TN
Posted

One of my neighbors passed away about 20 years ago. Her husband passed some years prior. A granddaughter stayed in the house for several months but later abandoned it. The house has been vacant for about 10 years now. I researched and found out that she was a LE(Life Estate) and named, I think, her husband the REM (Reminderman). They are both deceased. I have a two part question. 

1. If both the LE and the REM are deceased what happens to the deed? 

2. If the REM is her son and I can't find him how can I approach this? 

The house was and still can be the nicest house on the block if fixed. Over 90% of the houses on this street are free and clear and they take care of their community.  I have Atlanta and Nashville investors interested in me finding properties for them in Memphis so I plan to flip it to one of them. 

If anyone here understands how the Life Estate and Reminderman works please help me out.   

Most Popular Reply

User Stats

295
Posts
117
Votes
Ethan Henning
  • Real Estate Agent
  • Atlanta, GA
117
Votes |
295
Posts
Ethan Henning
  • Real Estate Agent
  • Atlanta, GA
Replied

Micheal I see that you have investors that are buying properties from you? I have inventory of off-market properties that may be easier to transfer title if you are interested :)

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